Comments on: Zecco IRAs Arrive http://www.lazymanandmoney.com/zecco-iras-arrive/ Saving, Earning, and Investing Money Sat, 21 Nov 2009 00:22:17 -0800 http://wordpress.org/?v=2.8.5 hourly 1 By: Linda http://www.lazymanandmoney.com/zecco-iras-arrive/comment-page-1/#comment-2322 Linda Thu, 08 Feb 2007 21:32:41 +0000 http://www.lazymanandmoney.com/zecco-iras-arrive/#comment-2322 Yesssssssssssss, woot! The wait is over Yesssssssssssss, woot! The wait is over

]]> By: RateLadder.com http://www.lazymanandmoney.com/zecco-iras-arrive/comment-page-1/#comment-2265 RateLadder.com Thu, 08 Feb 2007 02:12:39 +0000 http://www.lazymanandmoney.com/zecco-iras-arrive/#comment-2265 They could use a few more funds... I would buy other funds at those expense ratios. I use those as the core of my IRAs. I have other retirement vehicles at fidelity (I like the investor class indexes 10K Minimums, but great expense ratios) They could use a few more funds… I would buy other funds at those expense ratios. I use those as the core of my IRAs. I have other retirement vehicles at fidelity (I like the investor class indexes 10K Minimums, but great expense ratios)

]]> By: Lazy Man http://www.lazymanandmoney.com/zecco-iras-arrive/comment-page-1/#comment-2250 Lazy Man Wed, 07 Feb 2007 19:47:07 +0000 http://www.lazymanandmoney.com/zecco-iras-arrive/#comment-2250 Looks like E-Trade has some decent funds there. I'm just not sure they offer the breadth of what I'm looking for (no health care index or Wilshare 5000 equivalent). I could probably mix in an Etrade fund or two. That International fund would be interesting at that expense ratio. I may have to look into it. Looks like E-Trade has some decent funds there.

I’m just not sure they offer the breadth of what I’m looking for (no health care index or Wilshare 5000 equivalent). I could probably mix in an Etrade fund or two. That International fund would be interesting at that expense ratio. I may have to look into it.

]]> By: Chuck http://www.lazymanandmoney.com/zecco-iras-arrive/comment-page-1/#comment-2247 Chuck Wed, 07 Feb 2007 18:36:35 +0000 http://www.lazymanandmoney.com/zecco-iras-arrive/#comment-2247 Travelin Man - I have been with Zecco since they opened. I can't speak for IRA accounts, but for regular accounts they do not charge for ACH transfers. I would assume this also applies to IRAs. Travelin Man – I have been with Zecco since they opened. I can’t speak for IRA accounts, but for regular accounts they do not charge for ACH transfers. I would assume this also applies to IRAs.

]]> By: The Travelin' Man http://www.lazymanandmoney.com/zecco-iras-arrive/comment-page-1/#comment-2244 The Travelin' Man Wed, 07 Feb 2007 18:02:32 +0000 http://www.lazymanandmoney.com/zecco-iras-arrive/#comment-2244 I have read their fees pretty closely, but I can't seem to find where it says it is free (or not) to add or withdraw money via ACH transfer. I use Sharebuilder (small potatoes over here!) now, but this looks like a very realistic alternative. I do my best to avoid fees and taxes as best I can - can't do much about the latter, but this sure looks like one good way to avoid fees. Re: $30 annual fee for IRA. This account makes a lot of sense if you make a lot of trades in your account for the year. I know of some folks who do that - basically, taking advantage of the tax efficiency of the account type. The other negative is that they only pay a 1% interest on any cash balances held. That is significantly less than Sharebuilder, for example. I have read their fees pretty closely, but I can’t seem to find where it says it is free (or not) to add or withdraw money via ACH transfer. I use Sharebuilder (small potatoes over here!) now, but this looks like a very realistic alternative. I do my best to avoid fees and taxes as best I can – can’t do much about the latter, but this sure looks like one good way to avoid fees.

Re: $30 annual fee for IRA. This account makes a lot of sense if you make a lot of trades in your account for the year. I know of some folks who do that – basically, taking advantage of the tax efficiency of the account type.

The other negative is that they only pay a 1% interest on any cash balances held. That is significantly less than Sharebuilder, for example.

]]> By: RateLadder.com http://www.lazymanandmoney.com/zecco-iras-arrive/comment-page-1/#comment-2243 RateLadder.com Wed, 07 Feb 2007 17:36:59 +0000 http://www.lazymanandmoney.com/zecco-iras-arrive/#comment-2243 I go with E*Trade low cost index funds: https://us.etrade.com/e/t/investingandtrading/mutualfundsandetfs?fundfamily=0&fund_fee_code=0 S&P500 - 0.09% Russell 2000 - 0.22% Internation Index Fund - 0.09% Tech Index Fund - 0.60% I go with E*Trade low cost index funds: https://us.etrade.com/e/t/investingandtrading/mutualfundsandetfs?fundfamily=0&fund_fee_code=0

S&P500 – 0.09%
Russell 2000 – 0.22%
Internation Index Fund – 0.09%
Tech Index Fund – 0.60%

]]> By: Lazy Man http://www.lazymanandmoney.com/zecco-iras-arrive/comment-page-1/#comment-2242 Lazy Man Wed, 07 Feb 2007 16:22:40 +0000 http://www.lazymanandmoney.com/zecco-iras-arrive/#comment-2242 Good catch, Chuck and My Financial Journey, I didn't realize that. I'm going to have to think whether it's worth it now. I usually just make one trade with my current account - buying an ETF. That would make my yearly maintenance fee around $10. Kevin, I like ETFs because they have lower expense ratios. Looking at Vanguard's <a href="http://quicktake.morningstar.com/FundNet/Snapshot.aspx?Country=USA&pgid=hetopquote&Symbol=VTSMX" rel="nofollow">Total Stock Market Fund (VTSMX)</a>, it's expense ratio is 0.19. The ETF version, <a href="http://quicktake.morningstar.com/etfnet/Snapshot.aspx?Country=USA&Symbol=VTI&fdtab=snapshot" rel="nofollow">Total Stock Market (VTI)</a> is at 0.07. That adds up over 30 years, but I'm not sure if it's enough to offset commissions and bid/ask spread. I think it could be a toss-up. Good catch, Chuck and My Financial Journey, I didn’t realize that. I’m going to have to think whether it’s worth it now. I usually just make one trade with my current account – buying an ETF. That would make my yearly maintenance fee around $10.

Kevin, I like ETFs because they have lower expense ratios. Looking at Vanguard’s Total Stock Market Fund (VTSMX), it’s expense ratio is 0.19. The ETF version, Total Stock Market (VTI) is at 0.07. That adds up over 30 years, but I’m not sure if it’s enough to offset commissions and bid/ask spread. I think it could be a toss-up.

]]> By: My Financial Journey http://www.lazymanandmoney.com/zecco-iras-arrive/comment-page-1/#comment-2240 My Financial Journey Wed, 07 Feb 2007 16:00:12 +0000 http://www.lazymanandmoney.com/zecco-iras-arrive/#comment-2240 Did you know that they charge an annual maintenance fee on their IRA accounts ($30)? Obviously it's not the end of the world when you got free trades, but still it's worth noting Here's a list of what's not free http://www.zecco.com/trading/FreeTrading.aspx?tab=WhatsNotFree Did you know that they charge an annual maintenance fee on their IRA accounts ($30)? Obviously it’s not the end of the world when you got free trades, but still it’s worth noting

Here’s a list of what’s not free http://www.zecco.com/trading/FreeTrading.aspx?tab=WhatsNotFree

]]> By: RateLadder.com http://www.lazymanandmoney.com/zecco-iras-arrive/comment-page-1/#comment-2239 RateLadder.com Wed, 07 Feb 2007 15:50:51 +0000 http://www.lazymanandmoney.com/zecco-iras-arrive/#comment-2239 Why ETFs? Why not a solid low cost index fund (with no load and no fees)? Why ETFs? Why not a solid low cost index fund (with no load and no fees)?

]]> By: My Financial Journey http://www.lazymanandmoney.com/zecco-iras-arrive/comment-page-1/#comment-2236 My Financial Journey Wed, 07 Feb 2007 15:32:10 +0000 http://www.lazymanandmoney.com/zecco-iras-arrive/#comment-2236 Sweet I've been waiting for this too! Sweet I’ve been waiting for this too!

]]> By: Chuck http://www.lazymanandmoney.com/zecco-iras-arrive/comment-page-1/#comment-2235 Chuck Wed, 07 Feb 2007 14:18:43 +0000 http://www.lazymanandmoney.com/zecco-iras-arrive/#comment-2235 The only thing that slightly disappointed me was the $30/yr fee Zecco is charging on IRA accounts. I guess its better than paying $7/trade every time you want to purchase more ETFs or rebalance though. The only thing that slightly disappointed me was the $30/yr fee Zecco is charging on IRA accounts. I guess its better than paying $7/trade every time you want to purchase more ETFs or rebalance though.

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